Nordea Investment Management AB Purchases New Position in Dycom Industries, Inc. (NYSE:DY)

Nordea Investment Management AB purchased a new stake in Dycom Industries, Inc. (NYSE:DY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,689 shares of the construction company's stock, valued at approximately $1,171,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in Dycom Industries by 46.5% during the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company's stock worth $3,988,000 after acquiring an additional 6,418 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Dycom Industries by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company's stock valued at $15,831,000 after purchasing an additional 31,864 shares in the last quarter. Hsbc Holdings PLC raised its position in Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company's stock valued at $1,317,000 after purchasing an additional 5,157 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in Dycom Industries during the 3rd quarter worth about $773,000. Finally, Creative Planning grew its stake in shares of Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company's stock valued at $1,293,000 after purchasing an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson reiterated a "buy" rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, KeyCorp upped their price objective on Dycom Industries from $227.00 to $229.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $206.38.

Dycom Industries Trading Down 0.6 %

NYSE DY traded down $1.10 during trading hours on Monday, hitting $175.37. 17,307 shares of the company's stock were exchanged, compared to its average volume of 262,756. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.45 and a beta of 1.43. Dycom Industries, Inc. has a 1-year low of $109.87 and a 1-year high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock has a 50-day simple moving average of $181.42 and a 200 day simple moving average of $182.00.

Insider Buying and Selling at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now directly owns 8,873 shares of the company's stock, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the sale, the director now directly owns 14,533 shares of the company's stock, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company's stock.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.